166 more loans given to Azerbaijani entrepreneurs on preferential terms
Azerbaijan, Baku, July 24 / Trend N. Ismayilova /
The Azerbaijani National Entrepreneurship Support Fund of the Azerbaijani Ministry of Economic Development allocated 166 other loans on preferential terms on July 24, the Ministry said.
Over 166 loans to the amount of 800,000 manat were given to entrepreneurs operating in industry, agriculture, construction material and tourism. These loans were provided from a fund created by means of 7 authorized loan organizations to the economic regions of Lankaran, Massali, Jalilabad, Lerik and Astara. Financing projects by preferential loans will provide more than 330 new jobs.
The Fund has already provided loans to the amount of 46 million manat through authorized loan organizations since early 2009. Within this period loans were given to more than 930 businesses on preferential terms. Financing projects by preferential loans will promote more than 3,800 new jobs.
The Fund also conducted training on the preparation and valuation of investment projects submitted by businesses in order to receive preferential loans from the Fund. Roughly 300 entrepreneurs took part in training dedicated to valuing investment projects delivered by their businesses, drawing up business-plans and using the preferential loans.
On July 24, the official exchange rate is 0.8042 manat to $1.